Saturday, May 23, 2009

Ohio's jobless rate jumps to 10.2%

Ohio got fresh evidence yesterday that the economy is replaying the worst days of that decade, as the state unemployment rate hit double digits for the first time in 25 years.

The seasonally adjusted rate was 10.2 percent in April, up from 9.7 percent in March and up from 6.2 percent a year earlier, according to figures from the Ohio Department of Job and Family Services.

"The economy is still deteriorating," although not as dramatically as it was at the beginning of the year, said Ken Mayland of ClearView Economics in the Cleveland area. "We are approaching the bottom, though we're not quite there yet."

Gov. Ted Strickland said there are "embryonic signs" that the economy is beginning to recover. "However, even if that is the case, it is likely that there will continue to be a period of continued job loss," he said.

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